SIF Banat-Crisana keeps up with inflation

Financial Investment Company (SIF) Banat-Crisana reported preliminary net profit worth 344 billion ROL ($10.3 million) for 2003, up 27bn ROL from the result recorded for the same period, but in mid-January. The profit posted by the company last year surged 15% as compared to 2002, when it totalled 300bn ROL. The inflation rate in this period amounted to 14.1%. SIF Banat-Crisana total revenues accounted for 637bn ROL last year, while expenses climbed to 253bn ROL. “We had made realistic forecasts, as the main indicators estimated in the spending and revenue budget early last year were exceeded,” Daniel Manate, the company’s director of strategy maintained. ZF